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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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55987045 No.55987045 [Reply] [Original]

The impression one gets by reading clickbait financial news articles is that nobody has any money anywhere.

Savings accounts are bare, 401k accounts are tiny for all generations, net monthly savings is in the single digit percentages.

Yet, when I look around at the world around me, house prices continue to appreciate rapidly, I see real human beings moving into the homes. There are new cars on the road, people talking about this or that vacation they’re going to take at work.

What is happening? Why do none of the numbers reflect what I’m seeing? I don’t understand what’s going on anymore, perhaps I never truly did.

>> No.55987057

>>55987045
I'm making $140k/year driving at UPS nigga.

>> No.55987088

>>55987045
I make $280,000 wfh in my pajamas with 1 hour of actual work each day.
>>55987057
140k a year?
This must be the poorest anon on all of /biz/, maybe even the internet.

>> No.55987140
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55987140

>>55987045
>FUD ID
Holy kek, ultra based ID

>> No.55987171

>>55987045
They are spending it the second the paycheck hits their account. Its common with high inflation, people spend money quickly because they know its not going to be worth as much tomorrow.

>> No.55987180
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55987180

If you want to get schizo go talk to my man FRED.

>> No.55987219

>>55987045
>implying you ever understood what is happening

>> No.55987262

1pbtid thread

>> No.55987281

>>55987045
Its borrowed. All of it is borrowed. And as long as employment is high its sustainable because wages keep creeping up in markets where the demand for labor is robust. But if that dynamic changes, either due to technological reasons (personally I am skeptical) or cyclical economic reaons (history says this is an inevitability), things get bad.

This is why people hoping for a collapse should be careful what they wish for. The agent of lower home prices is unemployment, and you better believer employers are very eager to walk back the raises they've had to give out post-2020.

>> No.55987367

https://www.cnn.com/2023/08/08/economy/us-household-credit-card-debt/index.html

It's that simple